1. The thread on MA salaries is not 100% accurate

2. Compensation for MA/GA for affected MNCs are expected to fall this year

3. Number of GA/MA spots for top-tier spots will definitely be lower as compared to previous years (Source: Most SA programmes have a lower return rate this year)

Your figures and data are flawed.

I know of a handful of local uni grads (even second upper) accepting 2.5k traineeships - just look at the post on UBS FS Academy.

Btw, double degree first-class average salary ain't 5.5k. It depends on your degree. From 2019 GES data, NBS Biz&Acct median salary is 4k.

Your post is more accurate, I have so many peers from autonomous Unis all getting 2.4k to 2.6k and we have peeps here talking about 5.5k, lol rofl what a joke... still living in lalaland...

I'm surprised at the figures mentioned in this thread. Previously, even after covid, one would easily have formed the impression after reading this forum that the starting salary of the vast majority of fresh grads is around the range of $4.6-6k/mth.

It made me, as an experienced worker making $4.8k/mth, very depressed. Looks like they were not representative of all fresh grads after all.

anyone know how accurate is the mycareersfuture salary. Especially for govt jobs.

I am also talking more about the min rather than max because... i expect the max to be less accurate

Yes can confirm this. Know of one MNC that is being more selective in their 2021 grad intake and reducing headcount

Also depends on type of MNCs, a few that my frens went for managed to negotiate around 3.2kish....

They reasoned it's already on the high side.

Most if not all GA/MA programmes have fixed packages - no room for nego

My experience -
- Graduated last year Oct private uni in electrical engineering
- Interned for an MNC for 6 months $800/m, coverted to perm position Feb this year $3.3k/m
- Left and joined another MNC last month earning $3.65k/m gross, doing R&D for electronics

To be honest 3.65k is actually on the pretty low end of the spectrum for R&D.

Yeah, I agree. But since they hired me under a fresh grad status seeing that I've less than a year exp and considering covid situation, I think in a way I'm still quite lucky. What do you think?

When such a large population of trainees are getting 2.5k and amidst such a labour market, yes you should be satisfied.

We should all be grateful that we are not all starving to death in this pandemic. Obviously our first point of comparison should be our third-world neighbours who are more than satisfied with a 2k pay that certain employers claim they can hire anytime. SG is not a first world country, it is a third world country, hence our fresh grads should be satisfied with third world pay.

Such sarcasm, anyway the world is how it is now, no point being sarcastic.

He's right that SG is not a first world country, even the UN recognizes this.

I hope that after the pandemic, wage inflation will be curbed so that costs of living will not rise so quickly, or better it will drop. Luckily I am already in the workforce for a few years and have enjoyed decent pay when I started work coupled with good increments over the years. As it is now time for me to start to accumulate assets like properties n all, I hope I can get everything cheaper and I hope this pandemic will present a chance for people like myself.

Sorry if I sound selfish but I think quite a few people have the same view.

"I got my money already so f*ck the younger generation amirite?"

Does it really matter if he has this view? That view is just a passive observation of how the world is unfolding and that it fortuitously happens to benefit his life. No need to be bitter. And he's not saying "f*ck you" either".

1. He sounds like a selfish prick
2. No that is not how the world is unfolding, that is how he wish the world would unfold. Assets (financial & properties) are still priced extremely high in the market.

I would ask for 4k minimum, anything less is weak tbh

For talented local fresh grad, I think you are too modest. Let's aim for a minimum of 5K. No 5K no talk :)

Every man for himself. I only care about myself and my own offsprings. Who cares what happens to others? Remember, no one owes you a living. If you cannot make it, you should reflect on why you have failed.

Seems like people are really stretching the baton here with either a “accept whatever offer you get” attitude or “actually you should ask for much much more” mindset.

Reality is most MNCs are still paying $3.5k to $4.5k for fresh grads, Finance would generally be higher ($4.5k+ for BO, $5k+ for FO/MO and of course the huge salaries and bonuses for IB/S&T). Don’t know about SMEs, though I'd wager $3k to $4k is normal in good times, perhaps apply a discount given the COVID period.

Point is, I doubt that there will be a considerable reduction in graduate salaries even during the COVID times. Reduced headcount certainly, but wages are still very sticky on the whole.

Certain employers think that COVID-19 is a global nuke, we are all cavemen now, and we should all be hungry for the payment of 2 cows a month.

This is just my passive summary, no need for a wall of text for something which can be said in 1 sentence.

How much to expect for UOL grad

Lol you say "wall of text" but I think this guy summed up your bitterness pretty concisely

A whole live cow costs a few thousand dollars

Most SMEs give 2.2k-2.7k now, while most are addressing headcount issues.

If you can join MNCs, wages are also suppressed now, within 3k-3.4k.

It's not easy I know, companies are also cutting AWS and variable bonuses. Having a job in this climate is already very fortunate.

U sure know your stuff. Yup 2.5k is alrdy very good for starting pay, fully concur.

Why is there a different between uol n local U? Both degrees right

Why is there a difference between lobster and chicken rice? Both fud right

+1...........

Excellent answer bro :)

It's like fine dining and cup noodles yeah

What do you mean?

Degree means degree wat. B&F UOL what's the pay range

🙂
 

Sim 2nd lower here. Got into one of the big 4 acc firms last year. After a few years of work exp, can easily earn more than the local u grads. A lot of local u grads especially those engineering majors get lower progression and even lower exit opps. Being in NUS/NTU is one thing but your major is also impt. lmao at engineering majors thinking their degree better than acc or banking from uol. Please leh don't embarrass yourselves and go fix the mrt instead of posting here.

Haha lucky you got into big 4, so it’s not about degree from SIM or NUS/NTU/SIM. Hearsay big 4 jump out to private can get big pay jump.

Those lucky to get into autonomous University got more options since their degree is more marketable.

Exactly, so don't know what's up with the stupid comparison mentioned beforehand. It's all the same.

Local U grad here anyway

Yea so no need to study, self teach also can.

Why need to go private U, anyone on the street also can become marketable and successful, maybe even more successful since no need to pay tuition fees

I would let this ego post slide if you had dissed on FASS/COHASS.

However for you A Level/Poly failures to even have the thought of comparing yourselves with a STEM degree from local uni is ludicrous.